Ballard Power Systems (NASDAQ:BLDP) Reaches New 1-Year Low – Time to Sell?

Shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) hit a new 52-week low on Friday . The stock traded as low as $1.60 and last traded at $1.69, with a volume of 2248853 shares. The stock had previously closed at $1.61.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on BLDP shares. Raymond James cut their price target on Ballard Power Systems from $4.00 to $3.00 and set a “market perform” rating for the company in a research note on Wednesday, August 14th. BMO Capital Markets reduced their target price on shares of Ballard Power Systems from $2.25 to $1.70 and set an “underperform” rating for the company in a research note on Tuesday, August 13th. Citigroup dropped their price target on shares of Ballard Power Systems from $3.50 to $2.00 and set a “neutral” rating on the stock in a research note on Monday, September 30th. Cormark reaffirmed a “market perform” rating on shares of Ballard Power Systems in a research note on Monday, September 16th. Finally, Cibc World Mkts downgraded shares of Ballard Power Systems from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 13th. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $2.92.

Ballard Power Systems Trading Up 5.0 %

The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.05 and a current ratio of 10.90. The stock has a market cap of $506.00 million, a P/E ratio of -2.67 and a beta of 1.78. The company has a 50-day simple moving average of $1.80 and a 200-day simple moving average of $2.39.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its quarterly earnings results on Monday, August 12th. The technology company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. Ballard Power Systems had a negative return on equity of 16.20% and a negative net margin of 177.95%. The business had revenue of $16.00 million during the quarter, compared to analysts’ expectations of $19.36 million. During the same period in the previous year, the business posted ($0.10) earnings per share. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, sell-side analysts forecast that Ballard Power Systems Inc. will post -0.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Ballard Power Systems

Large investors have recently modified their holdings of the stock. Van ECK Associates Corp increased its holdings in shares of Ballard Power Systems by 8.8% in the second quarter. Van ECK Associates Corp now owns 2,321,782 shares of the technology company’s stock valued at $5,224,000 after purchasing an additional 186,833 shares in the last quarter. TD Asset Management Inc increased its stake in shares of Ballard Power Systems by 1.2% in the 2nd quarter. TD Asset Management Inc now owns 707,953 shares of the technology company’s stock valued at $1,599,000 after buying an additional 8,154 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Ballard Power Systems by 7.3% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 565,053 shares of the technology company’s stock valued at $1,572,000 after buying an additional 38,662 shares during the period. BNP Paribas Financial Markets raised its position in shares of Ballard Power Systems by 4.1% during the first quarter. BNP Paribas Financial Markets now owns 215,970 shares of the technology company’s stock worth $600,000 after acquiring an additional 8,549 shares during the last quarter. Finally, Decade Renewable Partners LP acquired a new position in shares of Ballard Power Systems during the second quarter valued at $450,000. 28.02% of the stock is currently owned by institutional investors and hedge funds.

About Ballard Power Systems

Ballard Power Systems Inc engages in the design, development, manufacture, sale, and service of proton exchange membrane (PEM) fuel cell products. The company offers its products for power product comprising for bus, truck, rail, marine, stationary, and emerging market, such as material handling, off-road, and other applications.